Ledger’s announcement about Ledger Recover has apparently been taken with mixed emotions by the community. That has precisely tasked Pascal Gauthier to come out and interact with the community, giving them assurance about how things will proceed from the current time. More specifically, Pascal’s interaction highlights the concerts surrounding the announcement and the path forward.
Pascal Gauthier is the Chairman and Chief Executive Officer at Ledger. This suffices to say that the message is indeed pretty important.
I want to address the feedback over Ledger Recover, the way it was communicated, and share our path forward. Read my letter and join our town hall with our leadership team to learn more.
— Pascal Gauthier @Ledger (@_pgauthier) May 23, 2023
He called the announcement an unintentional communication mistake which will be improved in future announcements. Pascal addressed that the way the introduction of Ledger Recover was announced has affected the ability of the community to understand all the core details of the product. Security and transparency are the core pillars of Ledger, and there is absolutely no intention to harm them or even modify them in any manner.
We never meant to surprise you, said Pascal in the interactive speech, adding that they have been talking about the product (Ledger Recover) publicly solely to enable the community to learn about the kind of experience that they are attempting to bring to the table.
An issue that Ledger Recover aims to resolve deals with holders forgetting their seed recovery phrase. They often end up storing the key detail in a place that is subject to malicious activities. Meaning getting the recovery phrase back becomes nothing but impossible. Thereby causing huge losses to holders.
Two elements that make Ledger the potential choice for everyone are:
- Getting accredited as the secure hardware wallet by Consumer Reports; and,
- Donjon security team, which constantly reviews updates related to firmware & hardware.
Most importantly, the review done by the security team spans the ecosystem instead of just being specific to a single product or service for that matter.
Pascal then ventured to talk about transparency by highlighting that they pose an open-source codebase. This helps developers to ensure that there is a significant drop in activities that hamper the growth of the network. Being open-source may not necessarily mean the network is secure, but that is surely a sign that the network is willing to accept its flaws and work on them.
Further strengthening the launch of Ledger Recover is the support received from Justin Sun. He recently extended unwavering support to the venture by calling them a reliable partner. Justin also highlighted that Ledger has a historical record of serving its customers well in every situation.
Moving forward, Pascal has said that Ledger will continue to remain transparent and focus majorly on security. It will also inculcate a sense of self-custody. Details about the roadmap are expected to be shared by the engineering team and Chief Technical Officer of Ledger soon. Ledger continues accepting feedback from the community with a key focus on security and transparency.